Triasima Portfolio Management inc. Trims Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Triasima Portfolio Management inc. decreased its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 87.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,315 shares of the company’s stock after selling 36,405 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Fomento Económico Mexicano were worth $572,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its position in shares of Fomento Económico Mexicano by 9.0% in the first quarter. Baillie Gifford & Co. now owns 4,183,454 shares of the company’s stock valued at $544,979,000 after acquiring an additional 344,815 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Fomento Económico Mexicano by 3.8% in the 4th quarter. Schroder Investment Management Group now owns 2,583,664 shares of the company’s stock worth $336,781,000 after purchasing an additional 94,199 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in Fomento Económico Mexicano by 19.4% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 945,491 shares of the company’s stock worth $123,169,000 after purchasing an additional 153,771 shares during the period. LA Financiere DE L Echiquier grew its holdings in Fomento Económico Mexicano by 22.1% during the 2nd quarter. LA Financiere DE L Echiquier now owns 776,241 shares of the company’s stock valued at $83,562,000 after buying an additional 140,309 shares in the last quarter. Finally, Axiom Investors LLC DE raised its position in shares of Fomento Económico Mexicano by 2.6% during the fourth quarter. Axiom Investors LLC DE now owns 689,860 shares of the company’s stock valued at $89,923,000 after buying an additional 17,659 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Barclays cut their price objective on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.50.

Fomento Económico Mexicano Trading Down 0.1 %

Shares of NYSE FMX traded down $0.10 during trading hours on Friday, hitting $101.96. 1,155,589 shares of the company traded hands, compared to its average volume of 700,630. The company’s 50 day moving average price is $109.66 and its 200 day moving average price is $116.08. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $99.24 and a 12 month high of $143.43. The stock has a market capitalization of $36.48 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 4.01 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.87 earnings per share for the quarter. The business had revenue of $11.54 billion for the quarter. Fomento Económico Mexicano had a net margin of 3.75% and a return on equity of 8.65%. On average, equities research analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.12 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, July 29th. Investors of record on Wednesday, July 17th were given a $1.0206 dividend. This is a positive change from Fomento Económico Mexicano’s previous semi-annual dividend of $0.74. This represents a yield of 1.5%. The ex-dividend date was Wednesday, July 17th. Fomento Económico Mexicano’s dividend payout ratio is 14.36%.

About Fomento Económico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.